While financial and estate planning are important for every family, it is even more important for families who have children with special needs. It is important to prepare for your child’s financial future to help ensure a safe, secure, and independent life ahead. To prepare properly, you should take the following steps:

• Investigate your child’s and family’s eligibility for government benefits. You should keep in mind that government services or funding received today may not be available in the future.
• Review your health plan to make sure that it is adequate for your child’s present and future needs. If you believe your coverage is inadequate or anticipate that your child’s needs may change, you may wish to secure additional coverage.
• Consider the financial needs of your child’s guardian in the event of your death. Would the guardian need additional income to care for your child? Would funding be required for home renovations, specially equipped vehicles, or in-home health aides? Will funds be required for childcare services if, for example, your nominated guardian works full-time?
• Think about where your child will live when he is older. An assisted living facility can be costly, so you’ll need to prepare for this. Also, if your child wants to live independently, he will need the financial resources and money management skills to do so.
• Make sure that your estate plan is adequately set up to provide for your child’s needs. You should construct a plan that will allow your child to maintain the public benefits to which he is entitled.

Following these steps will help ensure that your child is well taken care of in the event of your death. A special needs planning attorney can help you set up the right plan to provide for your child financially.